Bulgaria marks Thursday the 16th anniversary of the first day of large scale protests that led to the toppling of the Socialist cabinet of Zhan Videnov.

The rallies flared because in two years in office, the Socialists led the country to a deep political, economic, and financial crisis, and hyperinflation.

At the time, the BGN was crashing down to reach the exchange rate of BGN 1 for USD 3 000, while basic staples, even bread and milk, disappeared from stores. Prices changed several times in the course of one day and as result of the hyperinflation, income of Bulgarians was estimated at USD 10 a month while monthly retirement stood at USD 3-5.